Intermediate Capital Group (LSE:ICP), the FTSE 100-listed alternative asset manager, reported higher fee-earning assets under management for the first quarter of its financial year and said the "investment landscape remains very attractive for a number of strategies".
Fee-earnings AUM was $82 billion at 30 June 2025, up 4% in the quarter and 11% year-on-year, supported by strong fundraising activity.
Total AUM stood at $123 billion, with $19 billion not yet earning fees. The group raised $3.4 billion during the quarter, led by contributions to the Europe IX private credit fund and the Infrastructure Europe II fund.
Europe IX reached €5.8 billion in client commitments, showing early momentum in its fundraising cycle, while Infrastructure Europe II hit €2.5 billion and is expected to close a further €0.6 billion before reaching its hard cap.
Intermediate Capital said investors remain focused on liquidity and performance, driving demand for strategies such as structured capital, secondaries and real assets equity.